Frank Wallace (died December 22, 1931) was an Irish-American gangster from South Boston, who ran the Gustin Gang in Boston during the Prohibition in the United States. Wallace was the last Irishman to run the illegal rackets in Boston until, agreeing to a "sit down" with Italian mobsters and to resolve the recent hijacking of beer shipments by the Gustins, he and lieutenant were ambushed and killed as they entered their rivals' headquarters at the C.K. Importing Company on December 22, 1931.